Question: Problem 8-09A (Part Level Submission) Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas.
Problem 8-09A (Part Level Submission) Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas. Nike Adidas Sales revenue $18,719.7 $11,164.2 Allowance for doubtful accounts, beginning 71.0 120.0 Allowance for doubtful accounts, ending 102.0 122.0 Accounts receivable balance (gross), beginning 2,740.0 1,833.0 Accounts receivable balance (gross), ending 2,859.0 1,645.0 (a1) Your answer is partially correct. Try again. Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.) Nike Adidas Accounts receivable turnover 7. times 6.9 times Click if you would like to show Work for this question: Open Show Work 2 Calculate the accounts receivable turnover for both companies. (Round answers to I decimal place . 12.5.) Nike Adidas Accounts receivable turnover 3.6 times 6.9 times Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 3 of 3 (a2) Calculate the average collection period for both companies. (Round answers to decimal place, e.g. 12.5. Use 365 days for calculation.) Adidas Average collection period days days Click if you would like to show Work for this question: Open Show Work Nike Attempts: 0 of 3 used
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